The Chubb family is in mourning after the passing of industry leader John Cox at the age of 84.
Cox was the founding chairman and first employee of ACE Limited, which acquired the Chubb Corporation last year and adopted its name. Described in a company statement as a “giant in the property and casualty insurance industry,” Cox was considered one of the most accomplished and respected industry leaders of his generation.
“What John put in motion more than 30 years ago in helping to found, lead and shape ACE in its formative years is a noteworthy legacy, and we honor his vision and achievements,” said Evan Greenberg, chairman and chief executive officer of Chubb. “Those who knew and worked with John remember him giving generously of his time in order to share his industry knowledge, and of fostering a dynamic environment where people could learn and grow. He will be missed by colleagues and friends. Our thoughts are with his family.”
Cox was described as a “forward thinking pioneer” who created an insurance company during an availability crisis in the US market. ACE was formed with founding sponsors from 34 blue chip companies across a range of industries.
However, Cox’s insurance career spans back much further. He entered the industry in 1959 as an accounting clerk at AIG, before joining the Insurance Company of North America, becoming president and, in 1981, taking on the role of senior executive vice president and chief operating officer for its parent company, INA. INA later merged with the Connecticut General Life Insurance Company to create Cigna, for which Cox was executive vice president for property and casualty insurance operations.
Cox grew up in Boston, Massachusetts and also served in the Marine Corps during the Korean War.
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